10 Tips on How to turn your Talent & Passion to Money
There are fundamental age long principles in making money in any life endeavor, and to make money from your talent is not an exception. It is a fact that many people have made good money giving their talent, while so much more talented people have received frustration and disappointment trying to make money from their talent. The thin line between these two sets of people is what I wish to consider in this article.
From close observation of successful talented people coupled with my personal experience, the followings are 10 things required to do for you to start making money from your talent.
- Develop it.
Before you can make money from your talent, you have to first develop it. It is only refined or processed natural resources that are valuable and it is only valuable substance that attracts money. No precious stone is useful unrefined, your talent is useless undeveloped until you work at it. Put all your energy together to develop your talents, it worth billions.
For details on how to develop you talent read 12 Tips to Develop Your Talents, Abilities and Strengths
- Create a niche for yourself within your talent (Uniqueness)
It is true that no fish attends swimming lesson to learn how to swim, it is natural ability. But you can only find different fishes in different types of water. Whales, Sharks, Dolphins, Tilapias, Catfishes are found in different types of water. While Catfishes are found in the muddy waters, Whales are found deep inside oceans. This is called “niche”.
Don’t do everything and be everywhere in your talent industry, create a special niche for yourself. Don’t compete with others, let others compete with you. Be uniquely different. That’s the only way you will keep making money from your talent. You can’t be special if you don’t specialize. You can’t be a talented footballer, without being perfect playing a particular position, either mid fielder or striker or defender. This is similar with every industry.
- Solve problems.
If your talent can’t solve any problem, I am sorry, it won’t earn money. You only earn money when you solve problems. People are looking for solutions to their problems and will be willing to pay handsomely for it. Every God given gift is meant to solve problems, discover the problems your gift is solving and start providing solution to them. You can solve information problems, educational problems, entertainment problems, spiritual problems, emotional problems or physical problems.
- Create products from it.
People don’t pay you because you are good at doing a particular thing; they pay you for the product or value you created from it. There are many products that can come out from your talents, that is where your creativity and ingenuity is required.
For example, a gifted speaker can create a seminar, consulting, books, audio product, magazine, or talk show from his gift, the opportunities are endless.
- Discover the demography of those who need your products.
A focused market is wealthy market. As you streamline your gift to a niche, discover the problems it’s solving, there is also a need for you to identify your target market demographically. This will help you take your product to where you can find them.
You need to answer these questions;
Who are your target markets?
- Their age bracket
- Where they reside?
- What they do?
- Where they shop?
- What they love?
- Where they relax?
- Which social media are they?
- What do they read?
This will help you reach them easily and quickly too.
- Brand it (Packaging).
This is the perception you will like to create in the mind of your followers and target. How you want them to feel, recognize you or think about you when they are in contact with you or your products. It has a lot to do with your identity and values you stand for, which come to play in the choice of your name, appearance, logo, color, attitude and delivery.
Great brands has captured the heart of our emotion with their products and packaging to the extent of calling similar brand their name. A good brand will earns good and constant money for you.
- Tell people about it (Advertisement).
People will never know a product or brand that is only known to the owner. When you have a product, the best thing to do is to start telling people about it. Nobody will help you blow your trumpet; you have to do it yourself.
There are various means through which you can let people know about what you are doing, such as;
- Word of mouth: Telling people one on one.
- Old media: Electronic and print media.
- New media: Social Networks like, facebook, twitter, youtube, linkedin, google+, etc
- Give it free.
When you or your products are new in the market, there is tendency for slow acceptance, except in very few cases. One of the ways to capture the heart of your target is to give whatever you have free. Let them have free taste of what you’ve got, if they are satisfied, the will pay for more.
All great organizations do this; they call it promotion or bonanza. You can organize free concert, competition, seminar, listening party, fashion show, road show, exhibition and so on. Subsidizing prices is also a part of giving out for your target to have a feel of you.
- Create a platform to sell it
A gift without platform will frustrate the owner. You need a platform, through which you can connect with your market. A platform puts you constantly in front of your target, creates a relationship and feedback from them. There are different types of platform, but the easiest and cheapest one is the new media – social networks. Facebook is now the third largest nation in the world after China and India in population as a result of her members. One out every nine persons is on facebook and spends average of 15hours 33 minutes on it monthly. Where else should you be other than social network to promote your products and have interaction with your target. Periodic seminar, program, exhibition, blog, TV/ Radio program, podcast, Blackberry/Whatsapps broadcast or news letter can also be a platform. Look for the one that best suit your brand and invest in it.
- Sell it
Finally, start selling your products and start making the money.
If you follow all the above listed as a talented or business person diligently and consistently, money will definitely follow. Please take note that to build enduring money making system in any industry anywhere in the world may take time. There is need for you to pay great attention to your brand and product quality.